Download full report with analyst certification and important disclosures
Feb 22 2019, 07:20 GMT
Cairn Homes
Yield! Significant shareholder returns coming in the medium term
- Sectors : Construction and Housebuilding
- Companies : Cairn Homes
DAVY VIEW
Cairn Homes is, in our view, likely to return significant amounts of capital to shareholders in the coming years. We forecast a yield that is over 9% on average in the next three years, with further substantial returns possible beyond 2021. There is also material upside to these returns if we assume higher gearing. We reiterate our ‘Outperform’ rating.
